Parsons hails CHSRA contract milestone

Pasadena, Calif.-based Parsons Corp. expressed enthusiasm Thursday, Aug. 22, 2013, over the contract executed by the California High-Speed Rail Authority with the Tutor Perini/Zachry/Parsons joint venture for the first segment of the the state's 700-mile high speed rail system.

The contract is valued at approximately $985 million, plus an additional $53 million in provisional sums, Parsons said.

The Golden State's HSR system, deemed the first "true" HSR operation in the U.S., seeks to link San Diego and Los Angeles, in southern California, to San Francisco in the north, with a leg to Sacramento, the state capital Parsons is serving as the lead designer and construction partner for the first segment, which will stretch 29 miles between Madera and Fresno, Calif., in the state's Central Valley.

"We are delighted to confirm signature of this contract, and we look forward to proceeding with full execution of this significant rail and infrastructure project," said Todd Wager, Parsons group president.

The contract execution comes even as a Sacramento Superior Court ruled last week that CHSRA had violated the terms of Proposition 1A, the state ballot measure which authorizes funding for the HSR program.